Home equity loans are one way to get money for other expenses in your life such as home repairs, special purchases or college costs. Here is some insight from Bloomberg:
“Lending tied to real estate is reviving as record-low mortgage rates spur the housing recovery while an improving job market makes it easier for people to borrow. A rise in home equity lines is in turn helping the economy, fueling purchase of goods like televisions and refrigerators. Consumer spending, the biggest part of the economy, accelerated to a 2 percent annual rate last quarter from a 1.5 percent pace in the prior period.”
A home equity loan might be the right solution for your finances. To learn more stop by any office of The First National Bank and Trust of Newtown to talk to us about your options. You can also contact us at 215-860-9100 and email@example.com.